The Rest Is Money 241. Greenland’s magnetic attraction: why Trump wants it all for himself
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Jan 8, 2026 Explore Trump's fascination with Greenland and its strategic magnetic resources crucial for energy and defense. Discover how China's monopoly on rare earths plays into this land grab. The discussion pivots to Venezuela, where oil revenues and legal wrangling take center stage. Meanwhile, UK politics come under scrutiny as Starmer seeks to uplift economic morale. With insights on tech billionaires eyeing Greenland and the implications for NATO, this conversation is packed with geopolitical intrigue and economic analysis.
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Rare Earths Are Geopolitical Leverage
- China has a near-monopoly on producible rare earth minerals that power magnets essential to defence and modern tech.
- Robert Peston argues controlling Greenland's deposits would break that strategic chokehold and shift economic power.
Magnets Underpin Modern Industry
- Super-powerful magnets made from heavy rare earths are vital for EVs, wind turbines, smartphones and missile guidance systems.
- Without heavy rare earths mixed into magnets, the components demagnetise when heated and fail crucial systems.
Greenland As A Strategic Resource Hub
- Greenland likely holds some of the largest deposits of heavy rare earth minerals but they remain largely unexploited.
- Peston says US ownership or control could erase China's strategic economic advantage on these resources.